How did the Great Recession affect unemployment?

What were the main causes of the Great Recession?

The Great Recession was primarily caused by the housing market collapse, risky financial practices, and high levels of debt.

How did unemployment rates change during the Great Recession?

Unemployment rates peaked at around 10% in 2009, significantly higher than pre-recession levels, which were around 5%.

Which sectors were most affected by unemployment during this period?

The construction, manufacturing, and retail sectors were hit hardest, with many job losses occurring in these industries.

What measures were taken to address unemployment after the recession?

The government implemented stimulus packages, extended unemployment benefits, and promoted job training programs to help recovery.

Are there any long-term effects of the Great Recession on employment?

Yes, many workers faced long-term unemployment, and some industries have not fully recovered, affecting wage growth and job security.